CHANDIGARH (Commodity Online): In view to bring the spiraling prices under control amid the lower stock position, Punjab, the Northern state of India, has decided to impose stock limit on the amount of rice, pulses and edible oil that traders can hold.

The decision would be effective on November 20. Under this a wholesalers can hold stocks of up to 500 metric tons of rice, 1,000 tons of pulses and 100 tons of edible oil, the official.

For retailers and small traders, the limit would be 50 tons for rice and pulses and 4 tons for edible oil, he added. The state government issued a notification regarding the stock limits Nov. 4 and had given traders 15 days to clear their excess stocks, the official said.

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However, there will be no restrictions on wheat stocks, said the official. Several state governments in India have imposed stock limits on various agricultural commodities following a surge in food grain prices due to below normal rains in the June-September monsoon Season

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